Glasgow, G11 7DR
Details
- £120,000
- Investments , Retail
- Size: 365 sq ft.
- Date Available: Immediately
RETAIL INVESTMENT
- Rare Class 3 investment opportunity
- Prominent frontage to busy Crow Road
- Established Jordanhill area in West End of City
- Leased until July 2034
- Current rent £9,600 per annum
- Rent review July 2027
- Net Internal Area: 33.94 sq ft (365 sq m)
- Offers in excess of £120,000 are invited
- VAT exempt
LOCATION
Prominently situated on the east side of the extremely busy Crow Road in the established Jordanhill residential are in the west end of the city.
The subjects benefit from trade from the surrounding area together with passing traffic on the extremely busy Crow Road between Anniesland Cross and the Clydeside Expressway.
The range of shops in which the subjects form part includes a good variety of traders/occupiers including Cameron Interiors, dental surgry, etc.
The street plan opposite shows the approximate location of the subjects, for information purposes only.
DESCRIPTION
The subjects comprise an attractively fitted out single fronted café/take-away situated on the ground floor of an impressive four-storey red sandstone tenement building.
The shop currently trades as ‘La Vie Café’ and has a front seating area with servery, which also accommodates take-away business and a fully fitted kitchen.
The current Planning Consent, granted in August 2005, is for use as a Café (Class 3) with restrictions.
ACCOMMODATION & FLOOR AREA
The shop is divided internally into a front customer seating area with a kitchen/servery area to the rear and toilet.
We calculate the Net Internal Floor Area in accordance with the RICS Code of Measuring Practice 6th Edition) to be approximately 33.94 sq m (365 sq ft).
RATING ASSESSMENT
The subjects are currently entered in the Valuation Roll with a Rateable Value of £6,700.
LEASE TERMS
The current tenant is Kristian Skegka who occupies under a full repairing and insuring lease, which runs to 14th July 2034 at a current rent of £9,600 per annum with provision for a rent review on 15th July 2027 and 2032.
VAT
Unless otherwise stated, all prices, premiums and rentals are quoted exclusive of VAT.
PRICE
Offers in excess of £120,000 are invited for the outright ownership in the subjects with the benefit of the current lease. This level of price gives an initial yield of 8% before deduction of acquisition costs, etc.
Note: VAT is not chargeable on the sale price.
LEGAL COSTS
Each party will be responsible for payment of their own legal costs to be incurred in any transaction.
EPC
Available on request.
ANTI-MONEY LAUNDERING
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed and requested at the relevant time.
